BOBB | Day 5: The most effective way to conduct market research

When you start a business, or create a new offer, you’re not creating it for yourself. You’re doing it for your people!

Wouldn’t it make sense to get your people involved in the process? That’s where market research comes in. When you do this well in your business, you’ll have your audience do all the heavy lifting for you.

They’ll tell you how to structure an offer for them to buy, what the main pain points they need solved are, what their objections are so you can address them, and what to say to them to get them to say yes!

Learn the step-by-step here!

Heeyy Party People! What’s up?

Welcome to Day 5 of the Booked Out Brand Blitz!

If you’re new around here, I’m doing a 100-day content series where I show you how to get booked out through online marketing.

On day 2, I talked about how to get your audience more engaged and the last point I covered was taking it to the real world after you develop your client avatar the right way.

If you’re like most entrepreneurs, a lot of what you do tends to stay in your head. You work on things in the background and then boom! You launch it expecting everybody to throw their money at you.

Trust me, you’re not alone. That’s a bad habit I’m still working on breaking lol

But that’s usually part of the reason you don’t get the results you want! When you start a business, or create a new offer, you’re not creating it for yourself. You’re doing it for your people!

Wouldn’t it make sense to get your people involved in the process?

That’s where market research comes in. When you do this well in your business, you’ll have your audience do all the heavy lifting for you.

They’ll tell you how to structure an offer for them to buy, what the main pain points they need solved are, what their objections are so you can address them, and what to say to them to get them to say yes!

Your audience is always telling you what to do. You only need to listen smarter!

I was on a session with someone the other day and she was talking about a launch that didn’t go as she expected.

When I asked her why she thinks that is, she said “Well, I’m good at what I do, but I’m not a marketing expert. So I don’t know how to do this right.”

I realized that that was an objection my target audience may be thinking and one I definitely should address.

Moral of the story, you’ll ALWAYS be doing market research.

Anyways! Let’s dive into how to conduct market research so you can make some schmoolah!

Step 1 – Who are you looking for and where can you find them?

Before you can do any research, you have to find the people, right?

There are two ways you can choose to conduct your market research, via a survey, or via an interview.

I often recommend doing both, but if this is a new demographic, you’ll wanna lean towards the interviews as it helps you flex your listening muscle and really hear what this person is saying.

You’ll want to survey at least 10 people who fit your avatar profile. A good mix would be a sample of those who bought from you, those who chose a competitor, those who didn’t buy at all, and those who are interested in buying.

That way, you can get healthy feedback from people at different stages of the customer journey.

So how do you find these people? Quora, Facebook groups, forums, your e-mail list, social media, asking people in person and online

So you’ve got the people, what do you ask them? That’s where step 2 comes in!

Step 2 – Prepare your questions

I was going to tell you how to come up with questions, but then I realized that the questions are pretty universal. Soooo I created a sheet, you can just scroll up, enter your e-mail and download it!

There, I did part of the work for you so you don’t have to. You’re welcome!

If there’s one thing you’ll get tired of hearing from me, it’s ALWAYS BE LIST BUILDING!

So as you’re wrapping up the call and thanking them for the time, ask them if they’d like to stay updated on the solutions you’re creating for their specific problems. Chances are, as you’re talking, you’ll unveil their specific problem and you can leverage that.

If you’ve positioned yourself as an expert on the call [SB1] and they’re interested, they’ll most likely say yes and bam! You’ve got another e-mail in your list, which is a lead! So there you go, 2 birds, 1 stone.

Step 4 – What to do with your research

Let everything you just learned sit and collect dust.

That was a joke. Don’t do that.

You can use your findings to craft a better offer for your audience. You should have gotten some ideas from them.

You can also break your findings down into categories that’ll help you sell yourself and your offers better like

Pain points

Objections

Dreams

Fears

These 4 categories will help you connect to your prospects when you’re selling whether it’s on sales calls, a sales page, or via a sales post on social media.

Just remember, you’re never really done doing market research. Each interaction with a lead is an opportunity to learn more about them.

That’s all I’ve got for you today! Until tomorrow, my loves!

Don’t forget to download your market research questions below!

Also, scroll down, comment, and let me know what your goal is for the market research you’re about to do.

As always, keep it bold, keep it fun, keep it YOUnique. I’ll see you guys later, Love you! 😘